By 
The New York State Assembly has passed a bill restricting proof-of-work mining operations using behind-the-meter energy for two years.
Source: The Block
BTCUSD is up +2.29%
The legislation caps the current levels of cryptocurrency mining emissions until the state can conduct a comprehensive impact study.
The bill has given the Department of Environmental Conservation the mandate to conduct a General Environmental Impact Statement on all the crypto mining operations.
The main sponsor of the bill, Dem. Anna Kelles, says that the objective is to comply with New York’s Climate Leadership and Community Act of 2019.
The law, which gained 95 votes with 52 against it, also restricts existing mining sites from increasing energy consumption by restricting issuing of permits.
An initial version of the bill, which had recommended a three-month moratorium, was dismissed in the Assembly in June 2021.
The Republican Assemblymember, Robert Smullen, has opposed the move calling it an anti-tech law. Smullen says that the authorities should instead be welcoming innovative technology.
Comments